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‘Simply fake’: The dossier that warned about Sanjeev Gupta

‘Simply fake’: The dossier that warned about Sanjeev Gupta

A report compiled by private investigators for Credit Suisse alleges the global steel tycoon was a clear participant in major fraud, with trades that never happened.

A small group of bankers at Credit Suisse, who had long mistrusted Sanjeev Gupta and his group of companies known as Liberty House, hired a private intelligence firm in 2018 to probe his dealings. Ben Searcy

The report that landed on the desks of Credit Suisse executives was a bombshell: Sanjeev Gupta, a global steel tycoon and one of the bank’s key borrowers, was a “clear participant” in a multi-billion dollar fraud, it claimed.

It was November 2018, and a small group of bankers at Credit Suisse, who had long mistrusted Gupta and his group of companies known as Liberty House, had hired a private intelligence firm to probe his dealings. Now they were flagging its eye-popping conclusion to their superiors: he was, the report claimed, a central player in a web of companies that had made many trades that were “simply fake”.

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Original URL: https://www.afr.com/world/europe/simply-fake-the-dossier-that-warned-about-sanjeev-gupta-20250722-p5mgqz